28 Jun 2013
NZD/USD recovering
FXstreet.com (London) - All in all, a better month for the NZD and has entered the last trading day for the month in positive territory.
Meanwhile for the NZD/USD, research teams at TD Securities said that building permits rose +1.3% in May, an unassuming number except that it follows the April jump of +21%. They continued to say that rebuilding of New Zealand continues but the RBNZ wants to rely on macro-prudential tools not conventional monetary policy to prevent forthcoming inflation pressures.
NZD/USD awaits NFP
NZD/USD is unlikely to move out from current ranges to the top side of 0.7870, but there after lies strong resistance at 0.7940. To the downside, 0.7700 would be key support until next weeks NFP’s.
Meanwhile for the NZD/USD, research teams at TD Securities said that building permits rose +1.3% in May, an unassuming number except that it follows the April jump of +21%. They continued to say that rebuilding of New Zealand continues but the RBNZ wants to rely on macro-prudential tools not conventional monetary policy to prevent forthcoming inflation pressures.
NZD/USD awaits NFP
NZD/USD is unlikely to move out from current ranges to the top side of 0.7870, but there after lies strong resistance at 0.7940. To the downside, 0.7700 would be key support until next weeks NFP’s.